PBOC relaxes RMB settlement rules to offset EU trade risk

Author: | Published: 6 Mar 2012

The People’s Bank of China (PBOC) decision last week to relax renminbi (Rmb) settlement rules, enabling all firms in the country to pay for cross-border transactions in the currency, has been heralded as a positive policy move by market participants.
The central bank has previously only allowed those on China’s mainland designated enterprises (MDE) list to conduct exports...